Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 18,600 shares, an increase of 12.0% from the September 30th total of 16,600 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily volume of 17,400 shares, the short-interest ratio is presently 1.1 days.

Investors Title Price Performance

NASDAQ ITIC traded down $4.98 on Thursday, reaching $231.28. The company had a trading volume of 11,517 shares, compared to its average volume of 10,461. The firm has a market cap of $435.73 million, a price-to-earnings ratio of 17.47 and a beta of 0.85. Investors Title has a fifty-two week low of $136.56 and a fifty-two week high of $243.74. The business has a 50 day moving average of $228.11 and a two-hundred day moving average of $196.34.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $4.70 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 10.32% and a net margin of 11.25%. The company had revenue of $65.38 million during the quarter.

Investors Title Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. Investors Title’s dividend payout ratio (DPR) is presently 13.90%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

Hedge Funds Weigh In On Investors Title

Several hedge funds and other institutional investors have recently bought and sold shares of ITIC. BNP Paribas Financial Markets lifted its stake in shares of Investors Title by 36.1% in the 1st quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 169 shares during the period. Rhumbline Advisers lifted its stake in Investors Title by 9.1% in the second quarter. Rhumbline Advisers now owns 2,088 shares of the insurance provider’s stock valued at $376,000 after buying an additional 174 shares during the period. Empowered Funds LLC boosted its holdings in shares of Investors Title by 4.2% during the 1st quarter. Empowered Funds LLC now owns 4,302 shares of the insurance provider’s stock worth $702,000 after buying an additional 175 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Investors Title by 9.0% during the 3rd quarter. Ritholtz Wealth Management now owns 2,703 shares of the insurance provider’s stock worth $621,000 after buying an additional 223 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Investors Title in the 3rd quarter valued at $117,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

Investors Title Company Profile

Investors Title Company engages in the issuance of residential and commercial title insurance for residential, institutional, commercial, and industrial properties. The company underwrites land title insurance for owners and mortgagees as a primary insurer; and assumes the reinsurance of title insurance risks from other title insurance companies.